China july inflation ticks up

CNC
Added On August 11, 2018

 China's inflation data in July beat market expectations, leaving room for monetary policy maneuvering.

 
On Thursday, the National Bureau of Statistics reported that the Consumer Price Index (CPI) rose 2.1 percent year-on-year in July.
 
The growth was faster than the 2-percent expected by the market and the 1.9-percent rate recorded in June. It was also the highest level since March.
 
Statisticians attributed the growth to strong demand for traveling during the summer vacation.
 
The data for July showed that month-on-month, air ticket prices rose by 14.5 percent, tour prices rose by 7.9 percent and hotel room prices rose by 2.2 percent.
 
They accounted for 0.19 percentage points of the 0.3-percent month-on-month CPI growth.
 
According to the NBS, during the January to July period, average year-on-year CPI growth stood at 2 percent.
 
Meanwhile, the producer price index (PPI), which measures costs for goods at the factory gate, rose 4.6 percent year-on-year in July.
 
The growth in July marked a slight slow down from the 4.7 percent rise in June.